Ransquawk

USD/CAD is at very interesting turn. All thanks to yesterday’s demand response which took place right next to the upward trend line and after a long lasting declines. Since the beginning of September, the trend remains bullish, in this context the declines can only be a correction. As you can see on the D1 interval, the rebound is also taking place on clear support, which has already triggered significant price reaction recently. As for the formation – on H4 we have a weak breakout from the wedge, which can not impress. On D1 we have the formation of the morning star. It seems we are facing an opportunity to return to growth.

For trading I recommend to try XM broker, which has 5 candles per day and it offers 30USD to deposit without a deposit and you can test it: LINK

Leave us a comment!

Ransquawk